Answer:
The answer is "$ 11,961.43"
Step-by-step explanation:
Given values:
P = $ 9500
r= 2.1 %
time (t)= 11 year
total quarterly year =4
Formula:
[tex]A= P (1+\frac{r}{n})^{nt}\\\\[/tex]
quarterly time = [tex]4 \times 11[/tex]
[tex]= 44[/tex]
[tex]A= P (1+\frac{r}{n})^{nt}\\\\[/tex]
[tex]A = 9500 ( 1+ \frac{0.021}{4})^{44}\\\\A = 9500(\frac{4+ 0.021}{4} )^{44} \\\\A = 9500(\frac{4.021}{4} )^{44} \\\\A= 9500 (1.00525)^{44}\\\\A= 9500(1.25909819)\\\\A= 11,961. 43\\[/tex]
